Dannible & McKee, LLP is pleased to present the May issue of our Tax & Business Alert
Must one spouse pay the tax resulting from a fabrication or omission by another spouse on a jointly filed tax return? It depends. This article explores the "innocent spouse" rules, which aren't easy to qualify for but do offer relief to some taxpayers. A sidebar discusses the facts and circumstances the IRS considers when determining whether to hold an "innocent" spouse liable for taxes due.
Deducting Business Losses for Pass-Through Entities
It's not uncommon for businesses to sometimes generate tax losses. But the tax law limits deductible losses in some situations, and the Tax Cuts and Jobs Act limits them even further for pass-through entities. This article explains how and why the rules have changed following tax law reform.

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Should You Be Worried About an IRS Audit?

Now that most taxpayers have filed their 2018 tax returns, one troubling afterthought may come to mind: Could I get audited? This brief article discusses how the IRS goes about choosing returns to audit and why most people should breathe easy.

Send Your Kids to Day Camp and You May Get a Tax Break

Among the many great challenges of parenthood is what to do with the kids when school lets out. If one chooses to send a child to day camp, he or she may qualify for a valuable tax break: the child and dependent care credit. This article explains why tax credits are so valuable and how eligibility for this one is determined.

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Featured Article from Our Experts

 
The Tax Cuts and Jobs Act contained provisions that impact businesses and even tax-exempt organizations. One notable change is how qualified taxable fringe benefits (QTFs) for parking and other transportation related expenses are treated.  Dannible & McKee Tax  P artner  Shannon T. Forkin, CPA, CGMA reviews these changes in detail and how they may impact your business.

 
 
About Dannible & McKee, LLP
 
Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978.  Throughout this forty-year history, we have been wholly dedicated to the success of our clients. Every aspect of our business has been guided by our values and our commitment to putting each client's interests first. In a complex profession, we have found our greatest rewards in the simplicity of helping good people prosper. Delivering confidence in every financial decision is our goal for our clients and it's also the most significant way we can contribute to their long-term success.

 
To learn more about Dannible & McKee, visit us at: www.dmcpas.com

Dannible & McKee, LLP | [email protected]  | (315) 472-9127 | www.dmcpas.com
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